Manitowoc Crosses Below its 10-day MA (MTW)
Manitowoc (NYSE:MTW) crossed under its 10-day moving average of $31.36 on a volume of 2.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Manitowoc has traded in a range of $16.18 to $33.46 and is now at $30.21, 87% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of Manitowoc on January 31st, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.88. Since that recommendation, shares of Manitowoc have risen 15.8%. We continue to monitor MTW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses manitowoc